Finnish Gambling Landscape Shift: A Breakdown
Trending Changes in Finland's Gambling Scene
Finnish parliamentary process initiated for implementing legislation that introduces commercial gambling industry amidst landmark law
With a series of proposed reforms, Finland's gambling market is set for a transformative journey, aiming to reshape the landscape by 2027. Here's a snapshot of the upcoming changes:
Key Players and Sectors
The emphasis is on competition, with iGaming and sports betting taking the spotlight. While there's no specific mention of commercial casinos, iGaming platforms are expected to thrive. Veikkaus, the current digital monopoly, is gearing up for changes, partnering with OpenBet to boost its sports betting offerings [2].
Legislative Shifts
The Finnish Government has proposed legislation to open the market to competition, ending Veikkaus's digital monopoly in 2027 [1]. Amid concerns about harm prevention vs market competition, the Parliamentary Committee suggests raising the gambling age to 20 and treating gambling as a risky product [1]. Committee recommendations also include stricter regulations and careful consideration of social impacts [1].
Market Forecast
By 2025, Finland's gambling market is projected to hit €2.4 billion, with substantial growth predicted in the iGaming sector [3]. The market reforms are expected to drive the surge in revenue.
New Measures and Authorities
A licensing system for private operators, a new supervisory authority, and enhanced measures such as mandatory ID verification, self-exclusion tools, and advertising restrictions are part of the broader overhaul [1].
Antti Koivula, a Finnish gambling law expert, expects the process to extend into autumn 2025 [4]. With broad political consensus behind the bill, the approval (subject to parliamentary examination and amendments) is seen as a formality.
In essence, Finland is moving towards a more competitive market with a focus on harm prevention and consumer protection, while expanding its sports betting and iGaming sectors.
The financial landscape of Finland's gambling industry is on the brink of a revolution, with the introduction of a Licensing system for private operators, signifying the end of Veikkaus's digital monopoly in 2027, as part of the market's shift towards increased competition. With the iGaming and sports betting sectors at the forefront, the ever-evolving business landscape in Finland's gambling industry is spawning opportunities for banking, investment, and fintech players looking to tap into this transformative fintech market.
